Business Estimates from the Office of Advocacy: A Discussion of Methodology
|
|
- Madison Robbins
- 8 years ago
- Views:
Transcription
1 Business Estimates from the Office of Advocacy: A Discussion of Methodology A working paper by Brian Headd Office of Advocacy U.S. Small Business Administration Release Date: June 2005 The statements, findings, conclusions, and recommendations found in this study are those of the authors and do not necessarily reflect the views of the Office of Advocacy, the United States Small Business Administration, or the United States Government.
2 2
3 Abstract The Office of Advocacy creates estimates of the number of employer and nonemployer businesses for recent years, since the newest available data have around a two-year lag. Advocacy estimates the number of nonemployers using growth rates from Internal Revenue Service s sole proprietor count estimates. Advocacy estimates the number of employers using the net difference in employer births and deaths from the Employment and Training Administration. Analysis shows that historical estimates have been close to the actual figures, as employers and nonemployers exhibited slow steady growth during the period of analysis. Nonemployers, however, tended to be slightly underestimated as sole proprietors have consistently grown faster than nonemployers in recent years. As more data become available, more sophisticated techniques could be employed to create current estimates of the number of businesses. Introduction The Office of Advocacy is charged in its authorizing statute to examine the role of small business in the American economy. Since 1976, the business, academic, and policy communities have come to rely on the Office of Advocacy s small business data. One elusive statistic that is much in demand is the current number of small businesses. 1 The Census Bureau s employer and nonemployer statistics are the most inclusive measures of the number of businesses. Hence, the best and most complete measure of the number of firms (excluding farms) can be found by adding the number of employers from Statistics of U.S. Business (SUSB), published by the Bureau of the Census, to the number of nonemployers from the Census s Nonemployer Statistics. 2 However, this number is only available with a lag time of about two and a half years. This working paper explains Advocacy s methodology for creating estimates of the number of businesses. 3 In a nutshell, Advocacy applies current changes in proxy business counts to historic U.S. Census Bureau levels of employer and nonemployer businesses separately, then adds them together for an estimate of the total number of businesses for each of the previous two years. The reasons for this and the methods used are addressed in the following discussion. Data Sources There are a few ways to count the number of businesses. Adding the number of employers and nonemployers from the U.S. Census Bureau s nonemployer database and SUSB is a comprehensive figure that is becoming the gold standard. Unfortunately, both data sources have a lag of a few years. Fortunately, figures are available from the underlying data sources from which they are created. Rates of change based on these more current data sources can be used to try to bring the lagging data sources up to date. Employers and nonemployers tend to have differing trends with regard to the business cycle, so estimating them separately can create more useful information and result in a strong total business estimate. 4 In 2002, the most recent year for which actual figures are available, the total number of businesses was 23.3 million. Of these, 1 For the past several years, the Office of Advocacy has estimated the number of businesses for the latest two years in its publication, Small Business Economic Indicators. See Note that estimates for some prior year figures calculated in this paper to better evaluate the methods differ from figures listed in Small Business Economic Indicators because the actual 2002 nonemployer figure was uniquely available because of the Economic Census. 2 Note, however, that the number of employers and nonemployers in existence at any point during the year will be lower than these Census figures, since Census counts all businesses that existed at any time during the year, including those that ceased operations during the year. 3 Comments on these procedures are encouraged to improve the quality of information available on businesses. Helpful comments from Jim Spletzer and Jason Faberman of the U.S. Department of Labor, Bureau of Labor Statistics were received, incorporated, and appreciated. 4 A suggestion was received to create estimates for disaggregated figures. In using ETA figures, state estimates would be possible and will be evaluated for future estimates.
4 17.6 million, or 75 percent consisted of nonemployers, and the remaining 5.7 million (25 percent of businesses) were employers. 5 Nonemployer Data. According to the Census Bureau, the underlying source for its nonemployer business number is nonfarm annual business income tax returns filed with the Internal Revenue Service (IRS) and maintained in the Census Bureau s Business Register. Census nonemployers have no annual payroll and a minimum of $1,000 in annual receipts. 6 The Census Bureau edits and reviews the tax returns to develop tabulations of nonemployer businesses. Of the nonemployers in 2002, 87 percent were sole proprietors. 7 Because the nonemployer statistics are based primarily on IRS sole proprietorship data, it makes sense to use the latest IRS sole proprietorship data to estimate the percentage change from prior year data. 8 Employer Firm Data. The Census Bureau, with funding from the Office of Advocacy, has produced annual statistics on nonfarm employer businesses by size of firm beginning with the 1988 data year, under the Statistics of U.S. Business (SUSB) program. SUSB uses employer establishments (or business locations) from Census s County Business Patterns as a base and uses other data sources to identify which establishments belong to the same firm. The underlying data for the County Business Patterns come from the Census Bureau s Company Organization Survey and Economic Censuses; administrative records from the IRS, the Social Security Administration, and the Bureau of Labor Statistics; as well as various other surveys. 9 Year-to-Year Rates of Change. How much does the number of businesses grow from year to year? Counts of business openings and closings are not available from the underlying data sources mentioned above. But openings and closings are available from administrative unemployment insurance records for employers through the Employment and Training Administration (ETA). These data are collected by state, and are available quarterly with a lag of about three months. The underlying data sources for SUSB and figures from ETA should mirror each other with regard to employer openings and closings, and ETA trends are used as a basis for estimates. 10 Because the unemployment insurance tabulations reflect employers within a state, and some firms have establishments in more than one state, the number of new employers and employer closures in these figures is overstated. However, the percent change in the state totals should reflect trends similar to those for the United States as a whole, as the share of establishments belonging to multi-state firms is not believed to vary much from year to year. The quarterly ETA data are added together to produce annual data, which helps smooth out unusual peaks and valleys reflecting occasional processing and cleaning of state files. ETA data include three categories: new firms, terminations, and successor firms; Advocacy s estimates make use of the data on new firms and terminations. Other measures have more problematic implications: The number of IRS tax returns overstates the actual number of businesses, as businesses can and do file more than one return. 5 Only 17,000 companies, or 0.3 percent of all employers, had 500 or more employees; thus, the estimate of the number of employers is virtually an estimate of small employers. 6 For more detail, see 7 One important distinction between nonemployers and sole proprietors is that sole proprietors can have employees. 8 It is important to note here that the latest two years of IRS nonfarm sole proprietor data are projected. IRS develops estimates from economic modeling and adjustments using recent filing patterns, economic and demographic trends, enacted legislation, and administrative changes. See for more detail. 9 For details, see 10 Census SSEL (renamed the Business Register) and BLS Business Establishment List or BEL, are similar. A study of 1994 data found matches of 95 percent among establishments in both sources (this excludes a large number of SSEL units that did not match and had no payroll). Parker, Spletzer, and Searson, The Business Establishment List Standard Statistical Establishment List Comparison Project, prepared for the Federal Economic Statistics Advisory Committee, June 15, See 2
5 Using self-employment as a measure of nonemployer businesses is inaccurate. Self-employment is an indicator of labor force status. Businesses can have more than one owner (sole proprietor). This too results in multiple filings for individual businesses and overstates the actual amount. The number of establishments measures the number of business locations, not the number of firms. (A parent firm can own multiple establishments.) But using establishment openings and closings from the Bureau of Labor Statistics new Business Employment Dynamics program could be a compelling source in the future. Unfortunately, even this data source, having a time lag of nine months, would be problematic. Estimating the Number of Businesses Annual nonemployer data have been available only since 1997; employer data have been available since An econometric model created from these few available data points would be weak at best. Therefore, Advocacy s more basic approach uses current available data from the IRS and the ETA to estimate year-to-year percentage changes. These rates of change are applied to Census totals of employers and nonemployers. In addition, this approach makes the process more transparent. The Census Bureau s nonemployers are similar to the population of sole proprietors documented by the IRS, and employers are similar to the employer population covered in state unemployment insurance data provided to the ETA. Estimates of changes in the IRS and ETA data applied to the more comprehensive Census employer and nonemployer data are used to give an approximation of recent year totals. For nonemployers, the percentage change rates in sole proprietors (as measured by the IRS) is applied to the most current Census nonemployer data. To arrive at figures for employer businesses, estimated employer firm births and closures are calculated and applied to the previous year s number of employers. For employer firm births and closures, the percentage change rates from ETA s state unemployment insurance figures for new firms and terminations are applied to the most current Census employer birth and death data. Following are examples of recent estimates for 2002 and Nonemployer Firms, 2002 and The Census nonemployer firm count from 2001, 16,979,498, is increased by the nonfarm sole proprietor annual percentage change from 2001 to 2002 of 2.41 percent, resulting in a rounded nonemployer firm estimate for 2002 of 17,388, Increasing this figure by the sole proprietor annual percentage change from 2002 to 2003 of 1.90 percent, results in a rounded nonemployer firm estimate for 2003 of 17,718,500. (2001 nonemployers) x (2001 to 2002 sole proprietor change) = (rounded 2002 nonemployer estimate) 16,979,498 x = 17,388,800 (2002 nonemployer estimate) x (2002 to 2003 sole proprietor change) = (rounded 2003 nonemployer estimate) 17,388,800 x = 17,718,500 Employer Firm Births. Census s employer firm birth count from 2001, 585,140, is increased by the ETA state firm birth annual percentage change from 2001 to 2002, 0.77 percent. This yields a rounded employer firm birth 11 Note that listed percentages are rounded. 12 Figures here differ from the published figures as the 2002 actual nonemployer figure was uniquely available because of the Economic Census. 3
6 estimate for 2002 of 589,700. Decreasing this figure by the ETA s annual percentage change in state firm births from 2002 to 2003 (-2.85), results in a rounded firm birth estimate for 2003 of 572,900. (2001 Census employer births) x (2001 to 2002 state birth change) = (rounded 2002 employer birth estimate) 585,140 x = 589,700 (2002 employer birth estimate) x (2002 to 2003 state birth change) = (rounded 2003 employer birth estimate) 589,700 x ( ) = 572,900 Employer Firm Closures. Census s employer firm closure count from 2001, 553,291, is increased by the ETA s annual percentage change in state firm closures from 2001 to 2002 (2.84 percent). This results in a rounded employer firm closure estimate for 2002 of 569,000. Decreasing this figure by the ETA s annual percentage change in state firm closures from 2002 to 2003 (-2.49) yields a rounded firm closure estimate for 2003 of 554,800. (2001 Census employer closures) x (2001 to 2002 state closures change) = (rounded 2002 employer closure estimate) 553,291 x = 569,000 (2002 employer closure estimate) x (2002 to 2003 state closure change) = (rounded 2003 employer closure estimate) 569,000 x ( ) = 554,800 Employer Firms, 2002 and Census s employer firm count for 2001 (5,657,774) is increased by Advocacy s estimate of the net difference in firm births and closures in 2002 (20,700). This results in a rounded estimate for 2002 of 5,678,500. Increasing this figure by the 2003 net difference in firm births and closures (estimated by Advocacy at 18,100), results in a rounded estimate for 2003 of 5,696,600. (2001 Census employers) + (2002 employer birth estimate) (2002 employer closure estimate) = (rounded 2002 employer estimate) 5,657, , ,00 = 5,678,500 (2002 employer estimate) + (2003 employer birth estimate) (2003 employer closure estimate) = (rounded 2003 employer estimate) 5,678, , ,800 = 5,696,600 Total Businesses, 2002 and Adding the employer and nonemployer estimates for 2002 results in a total business estimate of 23,067,300 for Adding the employer and nonemployer estimates for 2003 results in a total business estimate of 23,415,100 for (2002 nonemployer estimate) + (2002 employer estimate) = (2002 total business estimate) 17,388, ,678,500 = 23,067,300 (2003 nonemployer estimate) + (2003 employer estimate) = (2003 total business estimate) 17,718, ,696,600 = 23,415,100 Table 1 shows the actual and estimated figures for other years. 4
7 Results Evaluation With only seven years of nonemployer data available 1992 and 1997 to 2002 the comparisons that can be made between actual and estimated figures are limited. Attributing statistical significance to so few data points would be of limited value, so charts are employed and attached to the end of the working paper to visualize the estimates. The first thing to note from Table 1 is that the actual number of employers and nonemployers continually reflect slight annual increases, as there were actual increases in all of the periods reviewed. The increases ranged from 1.7 percent to 3.9 percent for nonemployers and from 0.1 percent to 2.0 percent for employers. Charts 1, 2 and 3 show that the estimates were quite close to the actual figures, which was most likely the result of the limited natural variation of the figures from year to year. But Chart 3 does show that nonemployer estimates were consistently lower than actual figures. The percentage increases in nonemployers over the measurable period of 1997 to 2002 were larger than the percentage increases in the number of nonfarm sole proprietor tax returns, so the estimation method resulted in a low estimate of the number of nonemployers. Chart 6 shows this undercount more clearly through the annual changes in nonemployers. As more nonemployer data points become available, this imperfect relationship between nonemployer and sole proprietor figures could be quantified and addressed in future nonemployer projections. Because nonemployers constitute most 75 percent of all businesses and because nonemployer estimates tended to be lower than nonemployer actuals, total business estimates were slightly lower than total business actuals. Also, Charts 5 and 6 do not show a consistent improvement from an estimate made two years in the future to one year in the future. So having one additional year of data did not yield figures that were better able to capture the change in the numbers of employers and nonemployers. With nonemployers and employers continually rising throughout the evaluation period, an opportunity to evaluate the estimates abilities to capture sign changes was not available. And declines predicted by the employer estimates for 2001 did not materialize. The similarities in estimates and actuals in Charts 1, 2 and 3 lead one to believe that estimates have value for discussion purposes. However the discrepancies in estimates and actual changes in Charts 5 and 6 show that the estimates are less useful for quantitative analysis. Conclusion Judging from the few data points where estimate and actual figures are available, estimates from the Office of Advocacy are close to the actual numbers and would be quite adequate for many practical purposes. However, slight variations in the rates of change in the number of employers and nonemployers makes creating an estimate that follows the trend of the annual change in employers and nonemployers quite difficult. Therefore, using these estimates for academic models could present problems. Comparisons between actual numbers and estimates show that the estimates are close enough to answer more questions than they raise. So at this juncture, the Office of Advocacy feels that applying current changes in proxy business counts to historic U.S. Census Bureau levels is the preferred method of estimation, and we await the views of others on this approach. As about five more data points (or years) become available in the nonemployer data, the performance of the Office of Advocacy s methods to estimate the number businesses will need to be readdressed and the inaccuracies of the methods described here could be improved through econometric techniques. 5
8 List of Illustrations Table 1: Comparison of Actual Business Figures and Estimates, Chart 1: Comparison of Estimated and Actual Number of Total Businesses, Chart 2: Comparison of Estimated and Actual Number of Employers, Chart 3: Comparison of Estimated and Actual Number of Nonemployers, Chart 4: Difference in Actual and Estimated Number of Total Businesses, Chart 5: Difference in Actual and Estimated Number of Employers, Chart 6: Difference in Actual and Estimated Number of Nonemployers, Chart 7: Annual Change in Business Measures,
9 Table 1. Comparison of Actual Business Figures and Estimates, Number of businesses Totals Actual 19,420, ,981,527 21,287,904 21,760,347 22,182,499 22,637,272 23,343, Est ,067,300 23,415, Est ,474,151 22,895, Est ,983,976 22,228, Est ,522,300 21,723, Nonemployers Actual (a) 14,325, ,439,609 15,708,727 16,152,604 16,529,955 16,979,498 17,646, Est. (b) ,388,800 17,718, Est. (b) ,844,551 17,299, Est. (b) ,332,376 16,588, Est. (b) ,885,500 16,062, Employers Actual (a) 5,095,356 5,193,642 5,276,964 5,369,068 5,478,047 5,541,918 5,579,177 5,607,743 5,652,544 5,657,774 5,697, Est. (b) ,678,500 5,696, Est. (b) ,629,600 5,595, Est. (b) ,651,600 5,640, Est. (b) ,636,800 5,661, Employer births (a) Actual (a) 544, , , , , , , , , , Est. (b) , , Est. (b) , , Est. (b) , , Est. (b) , , Employer closures (a) Actual (a) 521, , , , , , , , , , Est. (b) , , Est. (b) , , Est. (b) , , Est. (b) , , Nonfarm sole prop. (c) 15,495,000 15,848,000 16,154,000 16,424,000 16,955,000 17,176,000 17,183,700 17,377,100 17,570,500 17,904,900 18,336,500 18,684,200 State employers (d) 5,791,214 5,900,156 6,035,538 6,105,470 6,190,907 6,330,117 6,494,520 6,621,421 6,766,206 6,871,683 6,952,838 7,044,924 State births (d) 736, , , , , , , , , , , ,295 State closures (d) 819, , , , , , , , , , , ,164
10 Table 1. Comparison of Actual Business Figures and Estimates, (continued) Percent changes Nonemployers Nonfarm sole prop Census employers State employers Census births (1.2) (0.1) (1.8) (0.9) State births (0.2) 4.2 (5.0) 0.8 (2.9) Census closures (1.3) (0.3) State closures (1.6) (1.7) (2.5) (a) U.S. Census Bureau, Statistics of U.S. Business and Nonemployer Businesses (b) U.S. Small Business Administration, Office of Advocacy estimates (c) U.S. Department of Treasury, Internal Revenue Service with estimates for the two latest years (d) U.S. Department of Labor, Employment and Training Administration addition of state figures Source: U.S. Small Business Administration, Office of Advocacy, from data provided by the sources mentioned above and Advocacy estimates.
11 Number of businesses (millions) Chart 1: Comparison of Estimated and Actual Number of Total Businesses, Actual Total 2004 Est. Total 2003 Est. Total 2002 Est. Total 2001 Est. Total Source: Actual figures from U.S. Department of Commerce, Bureau of the Census. Estimates by U.S. Small Business Administration, Office of Advocacy.
12 Number of businesses (millions) Chart 2: Comparison of Estimated and Actual Number of Employers, Actual Employers 2004 Est. Employers 2003 Est. Employers 2002 Est. Employers 2001 Est. Employers Source: Actual figures from U.S. Department of Commerce, Bureau of the Census. Estimates by U.S. Small Business Administration, Office of Advocacy.
13 Number of businesses (millions) Chart 3: Comparison of Estimated and Actual Number of Nonemployers, Actual Nonemployers 2004 Est. Nonemployers 2003 Est. Nonemployers 2002 Est. Nonemployers 2001 Est. Nonemployers Source: Actual figures from U.S. Department of Commerce, Bureau of the Census. Estimates by U.S. Small Business Administration, Office of Advocacy.
14 Number of businesses Chart 4: Difference in Actual and Estimated Number of Total Businesses, , , , , , , , , Actual Total 2004 Est. Total 2003 Est. Total 2002 Est. Total 2001 Est. Total Source: Actual figures from U.S. Department of Commerce, Bureau of the Census. Estimates by U.S. Small Business Administration, Office of Advocacy.
15 Number of businesses Chart 5: Difference in Actual and Estimated Number of Employers, , ,000 80,000 60,000 40,000 20,000 - (20,000) (40,000) (60,000) Actual Employers 2004 Est. Employers 2003 Est. Employers 2002 Est. Employers 2001 Est. Employers Source: Actual figures from U.S. Department of Commerce, Bureau of the Census. Estimates by U.S. Small Business Administration, Office of Advocacy.
16 Number of businesses Chart 6: Difference in Actual and Estimated Number of Nonemployers, , , , , , , , Actual Nonemployers 2004 Est. Nonemployers 2003 Est. Nonemployers 2002 Est. Nonemployers 2001 Est. Nonemployers Source: Actual figures from U.S. Department of Commerce, Bureau of the Census. Estimates by U.S. Small Business Administration, Office of Advocacy.
17 Chart 7: Annual Change in Business Measures, Percent Percent 5 Census employers State employers Nonemployers Nonfarm sole prop. Source: Actual figures from U.S. Department of Commerce, Bureau of the Census. Estimates by U.S. Small Business Administration, Office of Advocacy.
Effective Federal Income Tax Rates Faced By Small Businesses in the United States
Effective Federal Income Tax Rates Faced By Small Businesses in the United States by Quantria Strategies, LLC Cheverly, MD 20785 for Under contract number SBAHQ-07-Q-0012 Release Date: April 2009 This
More informationThis study is an extension of a research
Business Employment Dynamics data: survival and longevity, II A study that extends previous research on the longevity of businesses shows that survival decreases at a decreasing rate; establishments that
More informationCo-employment and the Business Register:
U.S. CENSUS BUREAU Co-employment and the Business Register: Impact and Solutions Brandy L. Yarbrough July 31, 2013 Abstract: The increasing popularity of employee leasing and co-employment arrangements
More informationSmall Business: Role and Impact. Donna Davis CEO ARIZONA SMALL BUSINESS ASSOCIATION
Small Business: Role and Impact Donna Davis CEO ARIZONA SMALL BUSINESS ASSOCIATION What is a small business? Independent business having fewer than 500 employees. 1 1. U.S. Small Business Administration
More informationThe Small Business Share of GDP, 1998-2004
The Small Business Share of GDP, 1998-2004 by Katherine Kobe Economic Consulting Services, LLC for under contract number SBAHQ-05-M-0413 Release Date: April 2007 The statements, findings, conclusions,
More informationThe 2006 Earnings Public-Use Microdata File:
The 2006 Earnings Public-Use Microdata File: An Introduction by Michael Compson* This article introduces the 2006 Earnings Public-Use File (EPUF) and provides important background information on the file
More informationHow To Understand The Differences Between A Small Business And Large Business
The characteristics of small-business employees Small businesses employ slightly more than half of the private-sector workforce; in many ways, such as education, race, origin, age, and part-time status,
More informationExplaining the Recent Divergence in Payroll and Household Employment Growth
FEDERAL RESERVE BANK OF NEW YORK IN ECONOMICS AND FINANCE December 19 Volume 5 Number 16 Explaining the Recent Divergence in Payroll and Household Employment Growth Chinhui Juhn and Simon Potter Each month,
More informationCharacteristics of Minnesota Business, 2007. All Firms Firms with Paid Employees Firms without Paid Employees. Number of Paid Employees
Open for Business Women own one in four businesses in Minnesota, but the number of womenowned firms in the state grew at a surprisingly slow pace in the five years leading up to the recession. If you follow
More informationThe Recession of 2007 2009
The Recession of 2007 2009 February 2012 A general slowdown in economic activity, a downturn in the business cycle, a reduction in the amount of goods and services produced and sold these are all characteristics
More informationJOB OPENINGS AND LABOR TURNOVER APRIL 2015
For release 10:00 a.m. (EDT) Tuesday, June 9, Technical information: (202) 691-5870 JoltsInfo@bls.gov www.bls.gov/jlt Media contact: (202) 691-5902 PressOffice@bls.gov USDL-15-1131 JOB OPENINGS AND LABOR
More informationDice DFH Measure of National Mean Vacancy Duration, January 2001 to October 2014
December 2014 Report Eight Job Vacancy Duration and Recruiting Intensity Hold Steady in October The Dice DFH Mean Vacancy Duration Measure stood at 24.5 working days in October, little changed from a revised
More informationStartup Business Characteristics and Dynamics: A Data Analysis of the Kauffman Firm Survey
Startup Business Characteristics and Dynamics: A Data Analysis of the Kauffman Firm Survey A Working Paper by Ying Lowrey Office of Advocacy for Release Date: August 2009 The statements, findings, conclusions,
More informationAnalysis of JOLTS Research Estimates by Size of Firm
Analysis of JOLTS Research Estimates by Size of Firm Katherine Bauer Klemmer 1 1 U.S. Bureau of Labor Statistics, 2 Massachusetts Ave. NE, Washington DC 2212 Abstract The Job Openings and Labor Turnover
More informationNBER WORKING PAPER SERIES HIRING, CHURN AND THE BUSINESS CYCLE. Edward P. Lazear James R. Spletzer
NBER WORKING PAPER SERIES HIRING, CHURN AND THE BUSINESS CYCLE Edward P. Lazear James R. Spletzer Working Paper 17910 http://www.nber.org/papers/w17910 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts
More informationHawaii New Business Formation an analysis of business birth, deaths, and survival rates
an analysis of business birth, deaths, and survival rates November 2014 1 P a g e Table of Contents EXECUTIVE SUMMARY 3 I. INTRODUCTION 7 II. BIRTHS AND DEATHS OF HAWAII BUSINESS ESTABLISHMENTS 10 III.
More informationPublic Relations Agencies in Los Angeles County
Los Angeles County Economic Development Corporation in Los Angeles County 444 S. Flower Street, 34 th Floor Los Angeles, CA 90071 (888) 4-LAEDC-1 www.laedc.org Gregory Freeman and Christine Cooper, Ph.D.
More informationAn Analysis of Small Business and Jobs Brian Headd Office of Advocacy
An Analysis of Small Business and Jobs by Brian Headd Office of Advocacy Release Date: March 2010 This report was developed within the Small Business Administration, Office of Advocacy, and contains information
More informationThis article presents a simple framework
Net flows in the U.S. labor market, 990 200 Except in the most recent recession, net flows were from unemployment to employment (even in previous recessions), from employment to not in the labor force
More informationBUSINESS EMPLOYMENT DYNAMICS FIRST QUARTER 2015
For release 10:00 a.m. (EST), Wednesday, November 18, 2015 USDL-15-2204 Technical Information: (202) 691-6553 BDMInfo@bls.gov www.bls.gov/bdm Media Contact: (202) 691-5902 PressOffice@bls.gov BUSINESS
More informationNUMBERS, FACTS AND TRENDS SHAPING THE WORLD FOR RELEASE OCTOBER 22, 2015 FOR FURTHER INFORMATION ON THIS REPORT:
NUMBERS, FACTS AND TRENDS SHAPING THE WORLD FOR RELEASE OCTOBER 22, 2015 FOR FURTHER INFORMATION ON THIS REPORT: Rakesh Kochhar, Associate Director, Research Kim Parker, Director of Social Trends Research
More informationLabour Productivity of Unincorporated Sole Proprietorships and Partnerships: Impact on the Canada United States Productivity Gap
Catalogue no. 11F0027M No. 071 ISSN 1703-0404 ISBN 978-1-100-19073-0 Research Paper Economic Analysis (EA) Research Paper Series Labour Productivity of Unincorporated Sole Proprietorships and Partnerships:
More informationHow To Calculate Size Class
Employment dynamics: small and large firms over the business cycle The use of the dynamic-sizing approach to measuring employment growth by size of firm provides information useful in the debate on small
More informationEmployment Dynamics and Business Relocation: New Evidence from the National Establishment Time Series
DISCUSSION PAPER SERIES IZA DP No. 1774 Employment Dynamics and Business Relocation: New Evidence from the National Establishment Time Series David Neumark Junfu Zhang Brandon Wall September 2005 Forschungsinstitut
More informationMassachusetts Department of Revenue. Briefing Book FY2015 Consensus Revenue Estimate Hearing. December 11, 2013. Presented by: Amy Pitter COMMISSIONER
Massachusetts Department of Revenue Briefing Book FY2015 Consensus Revenue Estimate Hearing December 11, 2013 Presented by: Amy Pitter COMMISSIONER Kazim P. Ozyurt DIRECTOR OFFICE OF TAX POLICY ANALYSIS
More informationIssue Brief Number 1. Profile of Veteran Business Owners: More Young Veterans Appear To Be Starting Businesses
Issue Brief Number 1 Issue Brief Advocacy: the voice of small business in government Profile of Veteran Business Owners: More Young Veterans Appear To Be Starting Businesses By Jules Lichtenstein At A
More informationTAX RELIEF AMENDMENT IMPLEMENTATION LIMIT ON GROWTH OF CERTAIN STATE APPROPRIATIONS
TAX RELIEF AMENDMENT IMPLEMENTATION LIMIT ON GROWTH OF CERTAIN STATE APPROPRIATIONS Legal References Article VIII, Sec. 22(a), Texas Constitution, approved by the voters in November 1978, states that:
More informationICI RESEARCH PERSPECTIVE
ICI RESEARCH PERSPECTIVE 0 H STREET, NW, SUITE 00 WASHINGTON, DC 000 0-6-800 WWW.ICI.ORG OCTOBER 0 VOL. 0, NO. 7 WHAT S INSIDE Introduction Decline in the Share of Workers Covered by Private-Sector DB
More informationPRODUCTIVITY AND COSTS First Quarter 2015, Revised
Transmission of material in this release is embargoed until USDL 15-1056 8:30 a.m. (EDT) Thursday, June 4, 2015 Technical information: (202) 691-5606 dprweb@bls.gov www.bls.gov/lpc Media contact (202)
More informationNon Farm Payroll Employment Developments among States during the Great Recession and Jobless Recovery
Non Farm Payroll Employment Developments among States during the Great Recession and Jobless Recovery Prepared by: Paul E. Harrington and Neeta P. Fogg Center for Labor Markets and Policy, Drexel University
More informationQuarterly Census of Employment and Wages (QCEW) Business Register Metrics August 2005
Quarterly Census of Employment and Wages (QCEW) Business Register Metrics August 2005 Sheryl Konigsberg, Merissa Piazza, David Talan, and Richard Clayton Bureau of Labor Statistics Abstract One of the
More informationBanking and SME Financing in the United States
Banking and SME Financing in the United States by Charles Ou, Ph.D. Office of Economic Research U.S. Small Business Administration Washington, D.C.20416 charles.ou@sba.gov Release Date: June 2006 This
More informationDynamics of Minority- Owned Employer Establishments, 1997-2001
A Voice for Small Business Dynamics of Minority- Owned Employer Establishments, 1997-2001 An analysis of employer data from the Survey of Minority-Owned Business Establishments Created by Congress in 1976,
More informationTHE MAGNITUDE AND CAUSES OF ARIZONA S LOW PER CAPITA INCOME
THE MAGNITUDE AND CAUSES OF ARIZONA S LOW PER CAPITA INCOME February 2010 Dennis Hoffman, Ph.D. Professor, Department of Economics; Director, L. William Seidman Research Institute; and Director, Office
More informationTreatment of Employee Stock Options in the U.S. National Economic Accounts
Treatment of Employee Stock Options in the U.S. National Economic Accounts by Carol Moylan Bureau of Economic Analysis U. S. Department of Commerce Washington, DC 20230, USA U.S. companies increasingly
More informationEmployment Recovery in Urban Areas following the Great Recession
Employment Recovery in Urban Areas following the Great Recession Ryan Howley Economist Bureau of Labor Statistics, Washington, DC Toby Paterson Economist Employment Security Department, Washington State
More informationTHE Bureau of Economic Analysis (BEA) annually
35 Comparison of BEA Estimates of Income and IRS Estimates of Adjusted Gross Income New Estimates for 2005 Revised Estimates for 2004 By Mark Ledbetter THE Bureau of Economic Analysis (BEA) annually publishes
More informationAugust, 2005 A COMPARISON OF THE BUSINESS REGISTERS USED BY THE BUREAU OF LABOR STATISTICS AND THE BUREAU OF THE CENSUS
August, 2005 A COMPARISON OF THE BUSINESS REGISTERS USED BY THE BUREAU OF LABOR STATISTICS AND THE BUREAU OF THE CENSUS AUTHORS: Randy Becker, Joel Elvery, Lucia Foster, C.J. Krizan, Sang Nguyen, and David
More informationIndustry Sector Analysis
Industry Sector Analysis Growth, Core, and Competitive-Advantage Industries Southeast Michigan Macomb, Monroe, Oakland, St. Clair and Wayne Counties A Regional Profile Prepared by: Michigan Department
More information20,000 Direct Jobs in Maryland: The Economic Impact of Maryland s Health Insurance Brokerage/Underwriting Industry
20,000 Direct Jobs in Maryland: The Economic Impact of Maryland s Health Insurance Brokerage/Underwriting Industry Submitted by: Sage Policy Group, Inc. On behalf of: The Health Insurance Buyers and Brokers
More informationIntroduction. Current methodology
Estimation of Software in the U.S. National Accounts: New Developments by Carol Moylan Bureau of Economic Analysis U. S. Department of Commerce Washington, DC 20230, USA Introduction In 1999, as part of
More informationA visual essay: Post-recession trends in nonfarm employment and related economic indicators
A visual essay: Post-recession trends in nonfarm employment and related economic indicators David Langdon, Rachel Krantz, and Michael Strople Real GDP Corporate profits Unemployment Insurance (UI) claims
More informationThe SMALL BUSINESS ECONOMY A REPORT TO THE PRESIDENT
2004 The SMALL BUSINESS ECONOMY A REPORT TO THE PRESIDENT 2004 The SMALL BUSINESS ECONOMY A REPORT TO THE PRESIDENT United States Government Printing Office Washington: 2004 For sale by the Superintendent
More informationThe recession of 2007 2009, a
Employment outlook: Labor force projections to : a more slowly growing workforce The projected labor force growth over the next 10 years will be affected by the aging of the baby-boom generation; as a
More informationHigher Education Employment Report
Higher Education Employment Report First Quarter 2015 / Published May 2015 Executive Summary The number of jobs in higher education noticeably declined in 2015. This is in contrast to the past two years
More informationRochester, Minnesota. Summary. Housing Market Area. Market Details. Rental Market. Economy. Sales Market
Rice C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S Rochester, Minnesota U.S. Department of Housing and Urban Development Office of Policy Development and Research As of July 1, 2011
More informationThe Contributions of the Film & Video Production Industries to Oregon s Economy in 2005
The Contributions of the Film & Video Production Industries to Oregon s Economy in 2005 An Economic Impact Analysis for the Oregon Film & Video Office ECONOMICS FINANCE PLANNING 888 SW Fifth Avenue Suite
More informationEconomic Indicators Dashboard
Dashboard City of Seattle as of 1. Business Income 2010 2011 Change Business income Update (billions, 2010$) $52.1 $53.8 3.3% The Seattle Dashboard reports current and recent data for the following five
More informationIntuit Small Business Employment Index. White Paper
Intuit Small Business Employment Index White Paper October 2012 1 Intuit Small Business Employment Index White Paper Contents ABOUT THE INDEX... 3 BACKGROUND... 4 WHAT THE INDEX MEASURES... 4 METHODOLOGY...
More informationChanges in Self-Employment: 2010 to 2011
Changes in Self-Employment: 2010 to 2011 American Community Survey Briefs By China Layne Issued January 2013 ACSBR/11-21 INTRODUCTION From December 2007 to June 2009, the United States experienced an economic
More informationCity of Surrey. Preface. Total Income Fact Sheet
City of Total Income Fact Sheet Preface Statistics Canada conducts its Census of Population every five years with the most recent census having occurred in 2006. The Census provides information on the
More informationDecember 2015 Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090 www.fgcu.edu/cob/reri
Southwest Florida Regional Economic Indicators December 2015 Lutgert College Of Business 10501 FGCU Blvd. South Fort Myers, FL 33965 Phone 239-590-7090 www.fgcu.edu/cob/reri Table of Contents Introduction:
More informationAgriculture & Business Management Notes...
Agriculture & Business Management Notes... Preparing an Income Statement Quick Notes... The income statement measures the profitability of a business over a specific period of time. Cash reporting of income
More informationYoung Businesses, Economic Churning, and Productivity Gains
TURMOIL AND GROWTH: Young Businesses, Economic Churning, and Productivity Gains June 2008 Steven J. Davis University of Chicago John Haltiwanger University of Maryland Ron Jarmin U.S. Bureau of the Census
More informationSummary. Abbas P. Grammy 1 Professor of Economics California State University, Bakersfield
The State of the Economy: Kern County, California Summary Abbas P. Grammy 1 Professor of Economics California State University, Bakersfield Kern County households follow national trends. They turned less
More informationPennsylvania Intergovernmental Cooperation Authority
Pennsylvania Intergovernmental Cooperation Authority Philadelphia Must Reduce Its Need for Tax Revenues White Paper (No. 7) January 31, 2000 PENNSYLVANIA INTERGOVERNMENTAL COOPERATION AUTHORITY 1429 Walnut
More informationColorado Springs, Colorado
C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S Colorado Springs, Colorado U.S. Department of Housing and Urban Development Office of Policy Development and Research As of August 1,
More informationNew Hampshire PY 2007 Workforce Information Grant Annual Report
New Hampshire Program Year 2007 Workforce Information Core Products and Services Annual Report Page 1 New Hampshire PY 2007 Workforce Information Grant Annual Report Core Products and Services The Economic
More informationHUD PD&R Housing Market Profiles
Dayton, Ohio Quick Facts About Dayton By Felipe Chacon Current sales market conditions: soft. Current rental market conditions: soft. Current apartment market conditions: slightly soft. Tech Town, a 40-acre
More informationThese data were developed in cooperation with, and partially funded by, the Office of Advocacy of the U.S. Small Business Administration (SBA)
Introduction Statistics of U.S. Businesses (SUSB) is an annual series that provides national and subnational data on the distribution of economic data by enterprise size and industry. SUSB covers most
More informationEvaluating Veteran Business Owner Data
Evaluating Veteran Business Owner Data a research report of prepared in collaboration with Jack Faucett Associates, Inc. Bethesda, MD and Eagle Eye Publishers, Inc. Vienna, VA with additional assistance
More informationEconomic Forecast OUTPUT AND EMPLOYMENT WHAT THE TABLE SHOWS:
Economic Forecast OUTPUT AND EMPLOYMENT 7 8 9 1 11 1 13 1 United States Real GDP $ billions (fourth quarter) $1,996 $1,575 $1,5 $1,9 $15, $15,5 $15,97 $16,6 % change over the four quarters 1.9% -.8% -.%.8%.%.%.%
More informationFort McPherson. Atlanta, GA MSA. Drivers of Economic Growth February 2014. Prepared By: chmuraecon.com
Fort McPherson Atlanta, GA MSA Drivers of Economic Growth February 2014 Diversified and fast-growing economies are more stable and are less sensitive to external economic shocks. This report examines recent
More informationOhio Hispanic Americans
Ohio Hispanic Americans Ohio s Hispanic community is comprised of more than 383,000 people, accounting for 3.3 percent of the state s total population. According to the 2013 American Community Survey by
More informationState College, Pennsylvania
C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S State College, Pennsylvania U.S. Department of Housing and Urban Development Office of Policy Development and Research As of June 1,
More informationThe Shares of Indiana Taxes Paid by Businesses and Individuals: An Update for 2006
The s of Indiana Taxes Paid by es and Individuals: An Update for 2006 Larry DeBoer Department of Agricultural Economics Purdue University October 2007 Summary The s of Indiana Taxes Paid by es and Individuals:
More information1960-61. United States
61-61 United States By, the U.S. population had surpassed 179 million, a gain of 19.0 percent from. The median age had decreased to 29.5 (28.7 for men and.3 for women), the first decline since 1900. The
More informationWhen Will the U.S. Job Market Recover?
March 2012 In this newsletter, we focus on the U.S. job market. The economic recovery post-2008 is often referred to as a "jobless recovery" given the persistently high unemployment rate. In this paper
More informationII. WAGE AND SALARY DISBURSEMENTS
II. WAGE AND SALARY DISBURSEMENTS Wage and salary disbursements consist of the monetary remuneration of employees (including the salaries of corporate officers, commissions, tips, bonuses, and severance
More informationEconomic Forecast OUTPUT AND EMPLOYMENT WHAT THE TABLE SHOWS:
June, Economic Forecast OUTPUT AND EMPLOYMENT 7 8 9 5 United States Real GDP $ billions (fourth quarter) $,996 $,575 $,5 $,9 $5, $5,5 $5,9 $6,5 $7, % change over the four quarters.9% -.8% -.%.8%.%.%.6%.5%.8%
More informationApril 8,2005 JEFFREY KUPFER, EXECUTIVE DIRECTOR PRESIDENT S ADVISORY PANEL ON FEDERAL TAX REFORM
DEPARTMENT OF THE TREASURY WASHINGTON, D.C. 20220 April 8,2005 MEMORANDUM FOR FROM SUBJECT JEFFREY KUPFER, EXECUTIVE DIRECTOR PRESIDENT S ADVISORY PANEL ON FEDERAL TAX REFORM ROBERT CAmoLi& DEPUTY ASSISTANT
More informationThrough Recession and Recovery: Economic and Fiscal Impacts of Capital and Operating Spending by Dallas Area Rapid Transit
January 2014 Through Recession and Recovery: Economic and Fiscal Impacts of Capital and Operating Spending by Dallas Area Rapid Transit Prepared for Dallas Area Rapid Transit Prepared by Terry L. Clower,
More informationCase Study of Unemployment Insurance Reform in North Carolina
Case Study of Unemployment Insurance Reform in North Carolina Marcus Hagedorn Fatih Karahan Iourii Manovskii Kurt Mitman Updated: March 25, 2014 Abstract In July 1, 2013 unemployed workers in North Carolina
More informationFRBSF ECONOMIC LETTER
FRBSF ECONOMIC LETTER 213-23 August 19, 213 The Price of Stock and Bond Risk in Recoveries BY SIMON KWAN Investor aversion to risk varies over the course of the economic cycle. In the current recovery,
More informationHealth care benefits are a
Are Health Industry Compensation Costs a Factor Influencing Employer Health Care Costs? Employer health costs follow trends roughly similar to health industry compensation costs. This relationship holds
More informationTrends in employment and earnings in the philanthropic sector
Trends in employment and earnings in the philanthropic sector Employment in philanthropic organizations outpaced general labor force growth between 1972 and 1982 ; in particular, these organizations displayed
More informationWAGES AND EMPLOYMENT UNDER THE OLD-AGE INSURANCE PROGRAM
WAGES AND EMPLOYMENT UNDER THE OLD-AGE INSURANCE PROGRAM JOHN J. CORSON * Facts concerning wages and employment within the coverage of the Federal old-age insurance program have been awaited eagerly. These
More informationTAX REFORM: SELECTED FEDERAL TAX ISSUES RELATING TO SMALL BUSINESS AND CHOICE OF ENTITY
TAX REFORM: SELECTED FEDERAL TAX ISSUES RELATING TO SMALL BUSINESS AND CHOICE OF ENTITY Scheduled for a Public Hearing Before the SENATE COMMITTEE ON FINANCE on June 5, 2008 Prepared by the Staff of the
More informationOn March 11, 2010, President Barack
U.S. Department of Commerce International Trade Administration Introduction Exports Support American Jobs Updated measure will quantify progress as global economy recovers. On March 11, 21, President Barack
More informationN e w s R e l e a s e
Department of Commerce - Labor and Economic Analysis Division N e w s R e l e a s e For More Information, Contact: For Immediate Release Larry Parker/919.707.1010 January 28, 2014 s December Employment
More informationUnemployment and Economic Recovery
Cornell University ILR School DigitalCommons@ILR Federal Publications Key Workplace Documents 11-17-2009 Unemployment and Economic Recovery Brian W. Cashell Congressional Research Service Follow this and
More informationEconomic Snapshot of the Salon and Spa Industry
Economic Snapshot of the Salon and Spa Industry August 2013 Salon Industry Snapshot The salon and spa industry is a vibrant and growing component of the U.S. economy, with more than 1.1 million total establishments
More informationATTACHMENT 1. Sales Tax Revenue Forecast
ATTACHMENT 1 Sales Tax Revenue Forecast RIVERSIDE COUNTY TRANSPORTATION COMMISSION, DECEMBER 2014 This publica on was prepared by: Beacon Economics, LLC BEACON ECONOMICS Christopher Thornberg Jordan G.
More informationNumbers as pictures: Examples of data visualization from the Business Employment Dynamics program. October 2009
Numbers as pictures: Examples of data visualization from the Business Employment Dynamics program. October 2009 Charles M. Carson 1 1 U.S. Bureau of Labor Statistics, Washington, DC Abstract The Bureau
More informationCONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE CBO. The Distribution of Household Income and Federal Taxes, 2008 and 2009
CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE Percent 70 The Distribution of Household Income and Federal Taxes, 2008 and 2009 60 50 Before-Tax Income Federal Taxes Top 1 Percent 40 30 20 81st
More informationNumber of Insurance Companies. U.S. Premiums by NAIC Financial Statement Type. U.S. Premiums by IDRR Premium Type. Insurance Department Data
The mission of the National Association of Commissioners (NAIC) is to assist state insurance regulators, individually and collectively, in serving the public interest and achieving the following fundamental
More informationGUIDE TO THE BUSINESS POPULATION AND DEMOGRAPHICS STATISTICS PUBLICATIONS
GUIDE TO THE BUSINESS POPULATION AND DEMOGRAPHICS STATISTICS PUBLICATIONS Summary This paper summarises the key features of the three National Statistics publications on the UK business population. It
More informationOver the past several years, Americans have
Industry Securities Industry Bears, bulls, and brokers: employment trends in the securities industry in the securities industry strongly correlates with stock market value; however, market volume does
More informationComparing NIPA Profits with S&P 500 Profits
16 SURVEY OF CURRENT BUSINESS April 2001 Comparing NIPA Profits with S&P 500 Profits By Kenneth A. Petrick T HE users of the national income and product accounts (NIPA s) often compare the growth rates
More informationSTOCK options, once considered a perk for top
7 BEA BRIEFING Employee Stock Options and the National Economic Accounts By Carol E. Moylan STOCK options, once considered a perk for top executives, have become an increasingly common part of compensation
More informationTHE PROJECTED ECONOMIC AND FISCAL IMPACTS OF A TENNESSEE HISTORIC REHABILITATION INVESTMENT INCENTIVE
THE PROJECTED ECONOMIC AND FISCAL IMPACTS OF A TENNESSEE HISTORIC REHABILITATION INVESTMENT INCENTIVE February 2014 Prepared by: Economic Impact Group, LLC. Copyright 2014 Economic Impact Group, LLC. EXECUTIVE
More informationDemographic and Economic Profile. Mississippi. Updated May 2006
Demographic and Economic Profile Mississippi Updated May 2006 Metro and Nonmetro Counties in Mississippi Based on the most recent listing of core based statistical areas by the Office of Management and
More informationSelf-employment continues to be
U.S. Self-Employment Self-employment in the United States About 1 in 9 workers was self-employed in 2009; as in the past, self-employment continues to be more common among men, Whites, Asians, and older
More informationFurther Integrating BEA s Economic Accounts: Introducing Annual Input-Output Estimates into the Gross State Product by Industry Accounts 1
Further Integrating BEA s Economic Accounts: Introducing Annual Input-Output Estimates into the Gross State Product by Industry Accounts 1 John Sporing, Jr. 2, George K. Downey, and John R. Kort WP2005-04
More informationTax Tips for the. Cosmetology. Barber Industry
Tax Tips for the Cosmetology & Barber Industry Whether a shop owner, an employee, or a booth renter (independent contractor), you need to know your federal tax responsibilities, including how to report
More informationMOST SMALL EMPLOYERS FACE LOW COSTS TO IMPLEMENT AUTOMATIC IRAS
MOST SMALL EMPLOYERS FACE LOW COSTS TO IMPLEMENT AUTOMATIC IRAS A Report Prepared for AARP by: Optimal Benefit Strategies, LLC August 19, 2009 Copyright 2009 by AARP. All rights reserved. SUMMARY One of
More informationApril 2015 Revenue Forecast. Methodology and Technical Documentation
STATE OF INDIANA STATE BUDGET AGENCY 212 State House Indianapolis, Indiana 46204-2796 317-232-5610 Michael R. Pence Governor Brian E. Bailey Director April 2015 Revenue Forecast Methodology and Technical
More informationThe Aftermath of the Housing Bubble
The Aftermath of the Housing Bubble James Bullard President and CEO, FRB-St. Louis Housing in America: Innovative Solutions to Address the Needs of Tomorrow 5 June 2012 The Bipartisan Policy Center St.
More informationSupply and Demand Conditions for Electricians. An Update of Labor Market and Electrician Program Data. November, 2009
Supply and Demand Conditions for Electricians An Update of Labor Market and Electrician Program Data November, 2009 Prepared by Bruce Steuernagel, Labor Market Analyst Office of the Chancellor Minnesota
More informationEconomic Benefits of Michigan s Nonprofit Sector May 2014
Economic Benefits of Michigan s Nonprofit Sector May 2014 The following report was prepared for the Michigan Nonprofit Association and the Council of Michigan Foundations by Public Sector Consultants.
More information